Search
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Challenging Low Budget Limits

#
68
Chris Do
Published
August 18, 2017
Pro Call
Sales

Chris Do answers a Pro Member's question about their hesitation to raise their prices.

Read Transcript
All right. Give me a little context, and then you and I will work through this, ok? Gotcha all right. This is from my wife's perspective, so I'm coaching her and doing this. So she has a contract with a University and she wanted to make more. So I said, all right, we need to level you up. So she's very hesitant about talking about money. So we're going through talking about money. And I had mentioned the price bracketing, so I said, all right, instead of saying x dollars, we're going to say you want to go with your lowest amount and we want to anchor it to the highest amount. So we said around like 160 to $200 for her particular contract. So they did that. She went in, she pitched it. She didn't like it at first. But yeah, she was super hesitant. I was like, look, just trust me, this guy, Chris knows what he's doing. This thing works. I've seen it. And so I went in there and coached her up, and so she did it, and she sent me an email or sent me a screenshot and was like, wow, it really worked. They said that it's a little bit too much, but he came back with 1:25 to one fifty, which was great because she was going to settle for 110 to 125. Fantastic yeah, so super great. So I wasn't expecting them to go for the higher bracket that I did. But as you mentioned, go as high as you want. And if it's too much, they'll come back with the response. Either they'll say it's too much sorry or here is the other option. Yes Yep. So the question, I guess, is now that they've come back with a 125 to 150, what is the next step from here? This is fantastic. Ok? what is your wife do? She's a teacher. No, she's a psychiatric nurse practitioner. OK and is she asking for a higher day rate salary, what are we talking about here, hourly rate for her contract? Yeah so she she's on the provider side with Med management, so she has a contract with the University here in our state, and she'll come in and see some of the kids from the University or students say, OK, this is fantastic. This is an example of two people negotiating. This is a straight up negotiation. I'm not talking about positioning or anything else. It's just talking about money and Blair's golden rule. Blair ends this golden rule is those who don't talk about it. Don't make it right, so you have to be able to be comfortable talking about it. So you've coached her perfectly. Typically, what happens is when you're giving two numbers 160 to 200 the bottom number is the highest number that you're going to really want in your mind. So the 200 is just to move them up there so that they're going to focus in on the 160. But like you said, she was ready to settle for 110 to 125 or something like that, right? So you coached up perfectly. You never actually start with a number that you have in your mind. So she would never come into the conversation and say 110 to 200 because they're going to think, OK, we're not for you 90, and you expect them to pull you back. And that's just how this works. OK, so we have to be prepared for that. Now you also realize they're expert negotiators. Oh, Yeah. They have to be because they're dealing with all kinds of people, not just your nurse, your wife, and so they are prepared for this and they've heard this 1,000 times. And they also know what their budget is and where it's not going to be profitable for them anymore. So I suspect perhaps unless there were other circumstances, I don't know about where they're coming back between 125 to 50 is kind of where you just negotiate really hard then. So when they said, we're thinking this, what is your wife say to that? She's great. She's ready to take 125 now. Mind you. no, no, no, no. Don't do that. Oh, I know that. Yeah, I know. So how did she respond in the moment, though, it was. This is all through email. So she said, Oh yeah, yeah, this is all through email. She I think, yeah, OK. So she responded back and say, I may I'll consider the 125 to 150. Let me know what your supervisor says. He has to run the 125 to 1 through 3 Supervisor. So it's the ball's in his court at the moment. And we're waiting to hear back from him. And what were they paying her previous or they've never worked with her before? The previous contract was only $70 an hour. Oh, Wow. Yeah so I've coached you up pretty hard. I was trying to show her value as far as believing in herself and the value that she brought, and she finally listened to me, thankfully. Mm-hmm OK this is awesome. There's two ways to think about this. The first way to think about this is that you have to believe that you're worth that much, right, which is what you're talking about. But that's stressful for a lot of people because people have low, low opinion of themselves. I mean, after all, we're all taught to be very humble. So that kind of goes against being able to negotiate a higher amount of money for yourself. So there's another way you can think about this just the abstract it a little bit. And this is kind of how I like to do it. I just like to play a game. That's all it is like, I think when you this is going to be a bad analogy, I think, but when you pull into a parking lot, you're looking for a parking space. If you don't get one on the first floor, you go to the second floor and you just keep going until you find a spot. You don't put a lot of emotional expectation on the outcome of your parking space. When you're looking for a bathroom to go like you have to go to the bathroom in the mall or something, you're just looking for something, I kind of just try to abstract the money part and separate it for myself, actually. The danger there is if you don't get the price that you want, your self-esteem gets a hit. And that's a dangerous game to play. So when Ben burns and I are sitting in a room and we're like, you know, how much money should we ask the client for? I'm not sitting here thinking about how much I'm worth or anything like that. I'm just like, man, let's try. $70,000 Well, let's see what they say. And that's all it is. If you play a game of Risk or monopoly or any one of those board games, it's just a game. And I think we just need to abstract it. So the game here is to try to win for yourself. So it's almost like you're an agent for yourself, and then you can act in a way that is an emotional, objective and unbiased. Does that make sense? Now, Nicholas, I bet you can do an excellent job negotiating for your wife. Why is that? Because you have none of the emotional baggage about what it is that this is worth, you're just going to try to get the best number. And that's why a lot of people have agents and managers because they do a much better job of negotiating for them. I fall in this trap myself sometimes, and I'll tell you how I fall into this. As many of you guys know, I do public speaking. And I'm trying to get to that point in which I get paid $30,000 to do a talk for one talk. That's what some people in my space get, maybe only one or two people. So that's where I've set my sights. But when people reach out to me from all parts of the world. And I know that it's not a rich area, it's not like the United Emirates or something. It's not like in New York or where people have money. I start to say, look, let me make myself affordable and I start to negotiate against myself before I even float that number, the number that I float out now, it's going to cost you $10,000 to get me out there. It'll cost more, if you want more from me. But that's where I'm starting, and then I can let them negotiate me down. Truth be told in this video never needs to leave here. But truth be told, I would do it for free as I've done it for free. Many times, right? So my wife hears these kinds of things. She's like, how much money are you getting? I'm like $5,000. She's like, oh, you got to let Ben burns negotiate it for you because Ben will go for the jugular. He will ask for all kinds of crazy conditions. He enjoys the role of my gatekeeper, I think. He's like, Chris, are not going to do for this, this or that. He just says it very objectively. So if you think like, why are you so brave to tell your wife this dollar amount or if you're helping a friend with their business like you need to fire that person and just promote that person and say this and this because we're very clear and we're very level headed. So an exercise that you can do for yourself is to pretend you're negotiating for yourself. And the only way you can do that is to detach the expectations, the emotional anticipation of the outcomes and then just talk about the money part. This is a mindset shift here, you guys, because this is really tricky now because you have to pretend it's not you. So you're going to go in. What's your wife's name? Ali, so Ali. He's going to have to pretend like she's not Ali. And you can go pretty far in this mindset game, you can adopt an alter ego, a different personality. You can dress differently. You can hear can wear your hair differently just so you feel like you're a different person and negotiate for yourself. And see if that'll work. Now, I don't like negotiating about money, if possible. Over email. OK, because people have too long to think and that they can calmly and rationally just step away from it. Look around the room. Think about it. Walk around and talk to other people, and then come back to you. I would much prefer that Ali pick up the phone and talk to them. Having been coached by you, of course, because we need to get an agreement and we need to be able to communicate tone through our voice because otherwise it just seems like here's a number and people can respond to numbers. It becomes very objective at that point. Much better for Ali to pick up the phone and say, look, hey, I appreciate you trying to meet me here. And if we can do it for 120 five, I'm a happy camper. Can we make that happen right now? because otherwise, it's just too hard to ping back and forth via email, and then you're going to hear in the other person's voice like. Oh, Ali, yeah, you would be the highest paid person in this position ever. And I'm not going to be able to get that approved, but I can do 130. Are you good with that? And then you can play the role you just let out a deep breath like, aha! You know what, I really want to start working with you guys. Let's just make the deal happen. Let's graph up the contract. Let's get this deal done. And that's usually how it works, right? I want to have a conversation with somebody, I don't want to just ping back and forth and email. I know it's a lot easier. You have a lot more courage just typing in on the keyboard. But the other person has the same amount of courage to tell you no. OK great, Thanks. Makes sense to help you, man. Yeah, I'm good. OK, good. Now let's talk about you, man. How are you at negotiating for yourself? Pretty good. Since I've learned and watch a lot of the videos I've learned to take the emotional learning to take the emotions out of things and just talk numbers. Yeah it's just like everything else is the process. You got to trust the process and go in there and try to objectively look at your wins versus your failures and try again next time you get go up to bat. OK what's your rate? How do you charge? Well, currently I'm positioning myself to go into more of public speaking. I'm actually a pastor. Yeah and so when you see all the public speaking questions, that's coming from me. I say, yeah, I'm a pastor, and I'm starting to learn more about my process of preparing for sermons presentations. Mm-hmm And then so yeah, that's where I'm at. So you're a natural public speaker, right, because that's what you have to do all the time. No, I am a super introvert. Very similar story to you as far as being an introvert. So I've had to work very hard at it. OK, well, we have a lot in common. Let's see if we can help each other out here, ok? Yeah

RELATED VIDEOS

Creative Strategy & The Business of Design Pt.2
Creative Strategy & The Business of Design Pt.2
Chris Do
Sep 14, 2022
Overcoming Objections: The Socratic 6
Overcoming Objections: The Socratic 6
Chris Do
Sep 14, 2022
How to Sell Knowledge Product Pt.4 Sales Video Review
How to Sell Knowledge Product Pt.4 Sales Video Review
Chris Do
Sep 14, 2022
Flow Update
Flow Update
Chris Do
Sep 14, 2022
Lead Generation Tool Workshop Part 1
Lead Generation Tool Workshop Part 1
Chris Do
Sep 14, 2022
Sales Objection Role Play Pt.1
Sales Objection Role Play Pt.1
Chris Do
Sep 14, 2022
thefutur.com
Upgrade your Membership

Join the digital community, find people to work with, jump in the live calls, and more! When you upgrade today, you will immediately get:

Everything you have now
Two monthly live group calls with Chris Do
Weekly Office Hours with experts
Access to the digital community
Exclusive job/project opportunities
Peer accountability partnerships
Everything you have now
$150
/month
Billed every three months
Upgrade For $449

Or get two months free by signing up for the year!

Upgrade your Membership

Join the digital community, find people to work with, jump in the live calls, and more! When you upgrade today, you will immediately get:

  • Everything you have now
  • Two monthly live group calls with Chris
  • Weekly Office Hours with experts
  • Access to the digital community
  • Exclusive job/project opportunities
  • Peer accountability partnerships
  • Networking with 800+ members
$
150
per month,
billed quarterly
Join for $449

Be The First To Know

Welcome aboard! We are thrilled to have you.
Uh oh, something went wrong. Try submitting the form again.
 

Challenging Low Budget Limits

Chris Do answers a Pro Member's question about their hesitation to raise their prices.

Important: We’re sorry about this, but this transcript is hard to read. We’ve added the wall of text below to help our search function better. If you’d like to help us format this, please reach out to andres@thefutur.com. In the meantime, simply turn closed captions on (CC) the video above to read along.
All right. Give me a little context, and then you and I will work through this, ok? Gotcha all right. This is from my wife's perspective, so I'm coaching her and doing this. So she has a contract with a University and she wanted to make more. So I said, all right, we need to level you up. So she's very hesitant about talking about money. So we're going through talking about money. And I had mentioned the price bracketing, so I said, all right, instead of saying x dollars, we're going to say you want to go with your lowest amount and we want to anchor it to the highest amount. So we said around like 160 to $200 for her particular contract. So they did that. She went in, she pitched it. She didn't like it at first. But yeah, she was super hesitant. I was like, look, just trust me, this guy, Chris knows what he's doing. This thing works. I've seen it. And so I went in there and coached her up, and so she did it, and she sent me an email or sent me a screenshot and was like, wow, it really worked. They said that it's a little bit too much, but he came back with 1:25 to one fifty, which was great because she was going to settle for 110 to 125. Fantastic yeah, so super great. So I wasn't expecting them to go for the higher bracket that I did. But as you mentioned, go as high as you want. And if it's too much, they'll come back with the response. Either they'll say it's too much sorry or here is the other option. Yes Yep. So the question, I guess, is now that they've come back with a 125 to 150, what is the next step from here? This is fantastic. Ok? what is your wife do? She's a teacher. No, she's a psychiatric nurse practitioner. OK and is she asking for a higher day rate salary, what are we talking about here, hourly rate for her contract? Yeah so she she's on the provider side with Med management, so she has a contract with the University here in our state, and she'll come in and see some of the kids from the University or students say, OK, this is fantastic. This is an example of two people negotiating. This is a straight up negotiation. I'm not talking about positioning or anything else. It's just talking about money and Blair's golden rule. Blair ends this golden rule is those who don't talk about it. Don't make it right, so you have to be able to be comfortable talking about it. So you've coached her perfectly. Typically, what happens is when you're giving two numbers 160 to 200 the bottom number is the highest number that you're going to really want in your mind. So the 200 is just to move them up there so that they're going to focus in on the 160. But like you said, she was ready to settle for 110 to 125 or something like that, right? So you coached up perfectly. You never actually start with a number that you have in your mind. So she would never come into the conversation and say 110 to 200 because they're going to think, OK, we're not for you 90, and you expect them to pull you back. And that's just how this works. OK, so we have to be prepared for that. Now you also realize they're expert negotiators. Oh, Yeah. They have to be because they're dealing with all kinds of people, not just your nurse, your wife, and so they are prepared for this and they've heard this 1,000 times. And they also know what their budget is and where it's not going to be profitable for them anymore. So I suspect perhaps unless there were other circumstances, I don't know about where they're coming back between 125 to 50 is kind of where you just negotiate really hard then. So when they said, we're thinking this, what is your wife say to that? She's great. She's ready to take 125 now. Mind you. no, no, no, no. Don't do that. Oh, I know that. Yeah, I know. So how did she respond in the moment, though, it was. This is all through email. So she said, Oh yeah, yeah, this is all through email. She I think, yeah, OK. So she responded back and say, I may I'll consider the 125 to 150. Let me know what your supervisor says. He has to run the 125 to 1 through 3 Supervisor. So it's the ball's in his court at the moment. And we're waiting to hear back from him. And what were they paying her previous or they've never worked with her before? The previous contract was only $70 an hour. Oh, Wow. Yeah so I've coached you up pretty hard. I was trying to show her value as far as believing in herself and the value that she brought, and she finally listened to me, thankfully. Mm-hmm OK this is awesome. There's two ways to think about this. The first way to think about this is that you have to believe that you're worth that much, right, which is what you're talking about. But that's stressful for a lot of people because people have low, low opinion of themselves. I mean, after all, we're all taught to be very humble. So that kind of goes against being able to negotiate a higher amount of money for yourself. So there's another way you can think about this just the abstract it a little bit. And this is kind of how I like to do it. I just like to play a game. That's all it is like, I think when you this is going to be a bad analogy, I think, but when you pull into a parking lot, you're looking for a parking space. If you don't get one on the first floor, you go to the second floor and you just keep going until you find a spot. You don't put a lot of emotional expectation on the outcome of your parking space. When you're looking for a bathroom to go like you have to go to the bathroom in the mall or something, you're just looking for something, I kind of just try to abstract the money part and separate it for myself, actually. The danger there is if you don't get the price that you want, your self-esteem gets a hit. And that's a dangerous game to play. So when Ben burns and I are sitting in a room and we're like, you know, how much money should we ask the client for? I'm not sitting here thinking about how much I'm worth or anything like that. I'm just like, man, let's try. $70,000 Well, let's see what they say. And that's all it is. If you play a game of Risk or monopoly or any one of those board games, it's just a game. And I think we just need to abstract it. So the game here is to try to win for yourself. So it's almost like you're an agent for yourself, and then you can act in a way that is an emotional, objective and unbiased. Does that make sense? Now, Nicholas, I bet you can do an excellent job negotiating for your wife. Why is that? Because you have none of the emotional baggage about what it is that this is worth, you're just going to try to get the best number. And that's why a lot of people have agents and managers because they do a much better job of negotiating for them. I fall in this trap myself sometimes, and I'll tell you how I fall into this. As many of you guys know, I do public speaking. And I'm trying to get to that point in which I get paid $30,000 to do a talk for one talk. That's what some people in my space get, maybe only one or two people. So that's where I've set my sights. But when people reach out to me from all parts of the world. And I know that it's not a rich area, it's not like the United Emirates or something. It's not like in New York or where people have money. I start to say, look, let me make myself affordable and I start to negotiate against myself before I even float that number, the number that I float out now, it's going to cost you $10,000 to get me out there. It'll cost more, if you want more from me. But that's where I'm starting, and then I can let them negotiate me down. Truth be told in this video never needs to leave here. But truth be told, I would do it for free as I've done it for free. Many times, right? So my wife hears these kinds of things. She's like, how much money are you getting? I'm like $5,000. She's like, oh, you got to let Ben burns negotiate it for you because Ben will go for the jugular. He will ask for all kinds of crazy conditions. He enjoys the role of my gatekeeper, I think. He's like, Chris, are not going to do for this, this or that. He just says it very objectively. So if you think like, why are you so brave to tell your wife this dollar amount or if you're helping a friend with their business like you need to fire that person and just promote that person and say this and this because we're very clear and we're very level headed. So an exercise that you can do for yourself is to pretend you're negotiating for yourself. And the only way you can do that is to detach the expectations, the emotional anticipation of the outcomes and then just talk about the money part. This is a mindset shift here, you guys, because this is really tricky now because you have to pretend it's not you. So you're going to go in. What's your wife's name? Ali, so Ali. He's going to have to pretend like she's not Ali. And you can go pretty far in this mindset game, you can adopt an alter ego, a different personality. You can dress differently. You can hear can wear your hair differently just so you feel like you're a different person and negotiate for yourself. And see if that'll work. Now, I don't like negotiating about money, if possible. Over email. OK, because people have too long to think and that they can calmly and rationally just step away from it. Look around the room. Think about it. Walk around and talk to other people, and then come back to you. I would much prefer that Ali pick up the phone and talk to them. Having been coached by you, of course, because we need to get an agreement and we need to be able to communicate tone through our voice because otherwise it just seems like here's a number and people can respond to numbers. It becomes very objective at that point. Much better for Ali to pick up the phone and say, look, hey, I appreciate you trying to meet me here. And if we can do it for 120 five, I'm a happy camper. Can we make that happen right now? because otherwise, it's just too hard to ping back and forth via email, and then you're going to hear in the other person's voice like. Oh, Ali, yeah, you would be the highest paid person in this position ever. And I'm not going to be able to get that approved, but I can do 130. Are you good with that? And then you can play the role you just let out a deep breath like, aha! You know what, I really want to start working with you guys. Let's just make the deal happen. Let's graph up the contract. Let's get this deal done. And that's usually how it works, right? I want to have a conversation with somebody, I don't want to just ping back and forth and email. I know it's a lot easier. You have a lot more courage just typing in on the keyboard. But the other person has the same amount of courage to tell you no. OK great, Thanks. Makes sense to help you, man. Yeah, I'm good. OK, good. Now let's talk about you, man. How are you at negotiating for yourself? Pretty good. Since I've learned and watch a lot of the videos I've learned to take the emotional learning to take the emotions out of things and just talk numbers. Yeah it's just like everything else is the process. You got to trust the process and go in there and try to objectively look at your wins versus your failures and try again next time you get go up to bat. OK what's your rate? How do you charge? Well, currently I'm positioning myself to go into more of public speaking. I'm actually a pastor. Yeah and so when you see all the public speaking questions, that's coming from me. I say, yeah, I'm a pastor, and I'm starting to learn more about my process of preparing for sermons presentations. Mm-hmm And then so yeah, that's where I'm at. So you're a natural public speaker, right, because that's what you have to do all the time. No, I am a super introvert. Very similar story to you as far as being an introvert. So I've had to work very hard at it. OK, well, we have a lot in common. Let's see if we can help each other out here, ok? Yeah
Read More